Case Study: Cashhome achieves highest straight-through processing and reduces failed-payment costs with LexisNexis Risk Solutions' Bankers Almanac Validate

Innovative Currency Exchange Platform Streamlines its Payment Experience and Reduces Costs with LexisNexis® Bankers Almanac® Validate

Cashhome sp. z o.o. (LiderWalut.pl) is a Poland-based online currency exchange that lets customers buy, sell and exchange 15 currencies via web and mobile since 2011. The company struggled with payments delayed by mistyped or outdated bank details, which required manual research and recontacting customers, harmed satisfaction and drove up bank fees and labor costs. Cashhome needed an API validation solution with global coverage, real-time user notifications and a management app to reduce payment failures.

In 2020 Cashhome integrated LexisNexis Bankers Almanac Validate into its payment setup flow to verify account numbers and local routing codes in near real time, auto-fill bank and counterparty details, prompt for required fields (such as payment purpose codes), and provide routing/SSI data. The result was a much higher straight-through processing rate, fewer failed payments, lower bank fees and operational effort, and an improved customer experience with scalable coverage across 190+ countries.

Cashhome

Patryk Domoń

Chief Executive Officer